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☆ Reddit begins testing AI-powered answers feature to win more users
▼ + stars: | 2024-12-09 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

A small portion of Reddit's U.S. user base will have access to the Reddit Answers feature as part of an initial test before the company rolls the feature out more broadly. Reddit Answers is available via a new button on the company's homepage. Reddit Answers is more "about building a bridge to the content than it is about being a replacement for it," said Piantino. People will be able to use Reddit Answers to query any topic except those deemed NSFW, or not safe for work, Piantino said. With Reddit Answers, the company may be able to get more users to search for Reddit content on the platform, reducing the company's reliance on Google for traffic.

Persons: Steve Huffman, Piantino, Huffman, Reddit, Reddit isn't Organizations: Reddit, WSJ Tech, Wall, BMW, CNBC, Google Locations: Laguna Beach , California, U.S

☆ Reddit gets an upgrade from Morgan Stanley thanks to strong ad revenue growth
▼ + stars: | 2024-12-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Increased advertising spend gives Reddit a leg up over its peers, according to Morgan Stanley. RDDT YTD mountain RDDT YTD chart Morgan Stanley has stayed on the sidelines with Reddit during the year, which analyst Brian Nowak acknowledged as a mistake. This leads to ~35% '24-'27 US Ad revenue growth ... which is 2X-6X faster than peers." Nowak also expects ad spending to increase with Reddit's technological adoption, which includes machine learning modeling and end-to-end automation. He added that Reddit's U.S. ad unit pricing remains around 50% lower than that of its peers.

Persons: Morgan Stanley, Brian Nowak, Nowak Organizations: Reddit

☆ Reddit files to list IPO on NYSE under the ticker RDDT
▼ + stars: | 2024-02-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +6 min

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol "RDDT." The social networking company's core business is reliant on online advertising sales stemming from its website and mobile app. Reddit said the current addressable advertising market is $1.0 trillion, sans China and Russia. Reddit said that its non-employed moderators, known as Redditors, can participate in the company's IPO offering through its "directed share program."

Persons: Reddit, Pinterest, Alexis Ohanian, Steve Huffman, It's, DAUq, Condé Nast Organizations: Securities and Exchange Commission, New York Stock Exchange, P Global Market Intelligence, Google, eBay, . Publishing, Condé Locations: U.S, Reddit's U.S, China, Russia, Ukraine

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